Minister for Small Business and Assistant Treasurer, the Hon Kelly O'Dwyer MP, today announced that the Australian Small Business and Family Enterprise Ombudsman is now ‘open for business’.
Today’s announcement delivers on a key Government election commitment to establish a dedicated Ombudsman with real capability to deliver benefits for small businesses.
The Ombudsman will be a:
- Commonwealth-wide advocate for small businesses and family enterprises;
- Concierge for dispute resolution services to allow businesses to resolve disputes without resorting to costly litigation; and
- Contributor to the development of small business-friendly Commonwealth laws and regulations.
"Ms Kate Carnell AO, who commenced her new role on Friday, brings extensive experience and knowledge. The Ombudsman role will provide value to the small business and family enterprise community and help with the government’s aim of making it easier to do business in Australia," Minister O’Dwyer said.
Ms Carnell, who ran her own small businesses for 15 years before becoming ACT Chief Minister, is well-positioned to support small Australian businesses and family enterprises.
The Government acknowledges small businesses make a substantial contribution to Australia's economy with over two million small businesses generating around a third of economic output.
Other small business initiatives of the Coalition government includes:
- immediate deductibility of all eligible assets costing less than $20,000;
- tax cuts for all incorporated small businesses to 28.5%;
- 5% tax discount for unincorporated small businesses;
- cutting red tape on small business by $4.5 billion in our first two years, including by simplifying the process for establishing an employee share scheme; and
- immediate deductibility of professional expenses when establishing new small businesses.
These measures also complement the Government’s National Innovation and Science Agenda, which provides a suite of incentives for innovative start-ups to reach their potential.